GAME has no plans to close any of its stores despite announcing a year-on-year earnings decline of almost £10 million – down to £33.1 million for the six months ended January 23.

CEO Martyn Gibbs told MCV that none of its 300+ stores are loss-making.

"We are reviewing every part of the business based on the market, but also based on the organisation design we need both for now and in the future," Gibbs said.

He added: "In terms of answering the store question, we are not foreseeing any material closures in stores. We have a lot of lease events coming up. I will give you a couple of examples. We launched a big new store in Trafford last year, we did a big store in the Metro Centre where we took two stores to one, we just moved out of Southampton West Quay and then put a store on the High Street, that is performing very well.

"It is just about getting the portfolio of stores right at the right cost base, that can engage with the gaming communities in those locations. We still don't have a loss-making store in the UK, which is still a very proud statement we can make."